AIX introduced Mining Company Rules
Astana International Exchange (AIX) has announced that Mining Company Rules designed to create favourable environment for mining companies on AIX received a final approval by Astana Financial Services Authority, Strategy2050.kz reported.
“In the interest of both institutional and retail investors, a differentiated two-tier approach has been adopted for the Rules. Tier 1 shall focus on larger issuers on advanced stages of development, while Tier 2 provides a platform for junior mining companies with potentially higher returns and risk profile”, AIFC informed.
Depending on the Tier, mining companies will enjoy exemptions from several AIX Business Rules listing requirements, such as net profit and market capitalisation requirements. At the same time, the issuers will be required to demonstrate adequately experienced management, suitably qualified technical personnel and experts, as well as a Competent Person’s Report compliant with either of the JORC, NI 43-101 or KAZRC standards.
It should be noted that AIX was created in 2017 within the AIFC development framework. AIX shareholders are: AIFC, Goldman Sachs, Shanghai Stock Exchange, Silk Road Fund and NASDAQ which provides AIX trading platform. The exchange operates within a regulatory environment based on the principles of English common law, ensuring reliable conditions for investments.
